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PM Hopes New Electricity Tariff Can Ease Cost Of Living

KUALA LUMPUR – Datuk Seri Najib Tun Razak hopes the new electricity tariff announced yesterday, which is consistent with the drop in fuel and generation costs, can ease the cost of living.

In his postings on his Facebook and Twitter pages today, the Prime Minister said the Government would continue to prioritise the welfare of the people.

“After reviewing the fuel and generation costs, the Cabinet today decided to reduce the electricity tariff for domestic users in Peninsular Malaysia from March 1, 2015,” he said.

Energy, Green Technology and Water, Datuk Seri Dr Maximus Ongkili had earlier announced that consumers in Peninsular Malaysia would be able to enjoy a drop in the electricity tariff based on the Imbalance Cost Pass-Through (ICPT) mechanism at a rate of 2.25 sen for every kilowatt hour (kWh), while the average tariff rate for Sabah and the Federal Territory of Labuan is reduced by 1.20/kWh effective.

The reduction for both Peninsular Malaysian and Sabah and Labuan is from March 1 to June 30, 2015.

Ongkili said the matter was decided during the Cabinet meeting today after being informed of the cost of ICPT saving which could be passed to consumers in the form of a lower tariff amounting to RM726.99 million after taking into account the drop in the costs of global fuels and generation. – Bernama